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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account … analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro … intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers …

Persistent link: https://www.econbiz.de/10008632737

Agency and Communication in IMF Conditional Lending: Theory and Empirical Evidence

Marchesi, Silvia; Sabani, Laura; Dreher, Axel - Institute for the Study of Labor (IZA) - 2009

We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...

Persistent link: https://www.econbiz.de/10005703398

Der Euro als Jobmaschine? Zu den Auswirkungen des Euro auf den deutschen Arbeitsmarkt

Franz, Wolfgang - Institute for the Study of Labor (IZA) - 1998

jobs in the past. Decreased transaction costs might have a positive effect on employment. On the other hand, the Euro will … the labor market. Assessing these aspects of EMU, one should not expect massive positive employment effects of the Euro. …

Persistent link: https://www.econbiz.de/10005566768

Labour Mobility - An Adjustment Mechanism in Euroland?

Puhani, Patrick A. - Institute for the Study of Labor (IZA) - 1999

The purpose of this paper is to evaluate whether labour mobility is likely to act as a sufficient adjustment mechanism in the face of asymmetric shocks in Euroland. To this end, we estimate the elasticity of migration with respect to changes in unemployment and income on the basis of regional...

Persistent link: https://www.econbiz.de/10005233745

European Fiscal Union: What Is It? Does It Work? And Are There Really 'No Alternatives'?

Fuest, Clemens; Peichl, Andreas - Institute for the Study of Labor (IZA) - 2012

The view is widespread that there are just two options for the future of the Eurozone – either it is complemented by a fiscal union, or it will fall apart. In this paper, we discuss five possible elements of a fiscal union, of which three are in the centre of the current debate on fiscal union...

Persistent link: https://www.econbiz.de/10010556928

The Effects of European Economic and Monetary Union on Wage Behaviour

Lauer, Charlotte - Institute for the Study of Labor (IZA) - 1999

This paper evaluates the possible consequences of the forthcoming European and Monetary Union on wage behavior. It will be shown that EMU does not influence wage policy directly, but rather indirectly through its implications on other areas of economic policy, predominantly on monetary policy....

Persistent link: https://www.econbiz.de/10005762303

How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?

Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2006

The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom – that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization – a term typically used...

Persistent link: https://www.econbiz.de/10005233764

Exchange Rate Volatility and Employment Growth: Empirical Evidence from the CEE Economies

Belke, Ansgar; Setzer, Ralph - Institute for the Study of Labor (IZA) - 2004

rate volatility on labor markets in the CEECs is analyzed, finding that volatility visà- vis the euro significantly lowers …

Persistent link: https://www.econbiz.de/10005761957

Does Openness to International Financial Flows Contribute to Productivity Growth?

Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2008

Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...

Persistent link: https://www.econbiz.de/10005822435

Financial Globalization and Economic Policies

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - Institute for the Study of Labor (IZA) - 2009

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

Persistent link: https://www.econbiz.de/10005763826